Business News | Key Mineral Production in India Significantly Up in Q1 FY25
Get latest articles and stories on Business at LatestLY. The production of key minerals in India, including iron ore and limestone, has continued to demonstrate strong growth in the first quarter of FY 2024-25, highlighted Ministry of Mines on Thursday.
New Delhi [India], August 1 (ANI): The production of key minerals in India, including iron ore and limestone, has continued to demonstrate strong growth in the first quarter of FY 2024-25, highlighted the Ministry of Mines on Thursday.
The ministry stated that in the first quarter of FY 2024-25 (April-June), iron ore production increased significantly to 79 million metric tons (MMT) rising from 72 MMT in the same period of FY 2023-24, marking a growth rate of 9.7 per cent. Similarly, limestone production grew from 114 MMT to 116 MMT over the same period, reflecting a 1.8 per cent increase.
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Additionally, the production of manganese ore saw an impressive rise of 11 per cent, climbing from 0.9 MMT in April-June FY 2023-24 to 1.0 MMT in April-June FY 2024-25.
The ministry also added that during FY 2023-24, iron ore production reached 275 million metric tons (MMT), while limestone production hit 450 MMT. These two minerals alone accounted for approximately 80 per cent of the total mineral production under the Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules (MCDR) by value.
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The non-ferrous metal sector also showed positive trends. Primary aluminium production in the first quarter of FY 2024-25 increased by 1.2 per cent compared to the same period in the previous year. Production rose from 10.28 lakh tons (LT) in April-June FY 2023-24 to 10.43 LT in April-June FY 2024-25.
The ministry said that India's status as the second-largest producer of aluminium, the third-largest producer of limestone, and the fourth-largest producer of iron ore globally highlights its significant role in the global minerals market. The sustained growth in the production of these minerals indicates robust demand in key user industries, such as steel and cement.
According to the ministry, the uptick in production levels across these sectors suggests strong economic activity, driven by demand in related industries, including energy, infrastructure, construction, automotive, and machinery. These growth trends in mineral production reflect the ongoing economic momentum and the increasing demand for raw materials in India's industrial sectors. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)